Structure In Q1 2019, the Company had total debt to equity ratio of 19.4 times increased from Q1 2018 at 16.1 times. The interest-bearing debt to equity ratio was 13 times increased from Q1 2018 at 10.8 times

Corporation Group Public Company Limited 662 Soi Onnuch 17, Suanluang, Bangkok 10250 THAILAND. Tel: 02-0195000 Liquidity and Capital Structure As of 30 June 2019, the Group had a current ratio of 1.37, increase

from construction contracts 540.31 340.68 199.63 58.60 954.66 715.22 239.44 33.48 - EPC Services 169.66 171.66 (2.00) (1.17) 210.88 415.49 (204.61) (49.25) - Structure Mechanic and Pinging (SMP and E&I

. Appropriateness of the Funding Structure In 2Q 2019, the Company had total debt to equity ratio of 81.6 times increased from 1Q 2018 at 16.1 times. The interest-bearing debt to equity ratio was 54.7 times increased

launch Electronics Know Your Customer (e-KYC) service for next year. As a result, the revenue structure of the Company is more diversified. Furthermore, the Company plans to expand the customer bases from

appropriate of capital structure The debt to equity ratio as at 30 September 2018 was 2.5:1, increased from the debt-to-equity ratio as at 31 December 2017, which was 2.0: 1. The increase was due to the

’ equity. Appropriateness of the Funding Structure In Q3 2018, the Company had total debt to equity ratio of 14.1 times, increasing as compared to 2017 of 13.3 times. The interest-bearing debt to equity

| www.shotelsresorts.com Page 7 of 7 Analysis of Financial Position and Investment Structure The total assets as of June 30, 2019 was THB 25,631.0 million increased THB 1,241.3 million from December 3 1 , 2 0 1 8 , because

Appropriateness of the Funding Structure In 3Q 2019, the Company had total debt to equity ratio of 76.7 times increased from 4Q 2018 at 16.1 times. The interest-bearing debt to equity ratio was 47.9 times

structure and sufficient debt capacity. 7. The basis used to determine the value of consideration 7.1 The final bid value of spectrum license is based on the auction identified under the Notification of the